Queen Anne, Seattle Real Estate Update

When looking at Queen Anne, Seattle Real Estate, the latest statistics from the Northwest Multiple Listing Service confirm that this sought after neighborhood is definitely in a seller’s market.  The average sold price is up 15.6% at $881,209 while the median sold price is up 13.2% at $765,000. The percentage of list price for Queen Anne,  Seattle real estate saw a minimal 0.2% increase and is now at 102.8%. This means that, on average, homes are going for over list price. Knowing this information is great for negotiating when putting in an offer. You get a heads up on how much people are going over. Of course, your Seattle realtor will advise on what is an appropriate offer, being informed ahead of time is incredibly beneficial when navigating a market like the one we are currently in. Closed sales are up 16.7%, pending sales are up 15.2% and new listings are up 11.9%. More new listings is welcomed news for buyers as Seattle real estate has had record low inventory, making it hard for people to find Queen Anne, Seattle real estate. Additionally, this has caused rent to sky rocket forcing would be buyers to pay the same amount they would pay for a mortgage, for rent. This lack of inventory has understandably caused some frustration. While new listings are up, the month supply is still down at 1.2. In order for a market to be balanced, there needs to be a 6 month supply. This neighborhood, and much of King County, is still in a competitive sellers market. Whether you are looking to buy or sell, it is more important then ever to work with a qualified Seattle realtor. Having been in the local industry since 1989, I take great pride in guiding my clients so that they can make an informed decision on one of the biggest financial decisions they will make. If you are looking for an experience Seattle realtor, I would be happy to help you navigate this market.